Major Indexes Slip on Worries
About Corporate Earnings

By

E.S. Browning Staff Reporter of The Wall Street Journal

Updated Oct. 2, 2001 12:01 a.m. ET

Even the prospect of more interest-rate cuts Tuesday wasn't enough to extend last week's stock rally, as investors focused instead on gloomy earnings prospects, nudging the Dow Jones Industrial Average down slightly.

Though the Federal Reserve already has cut its target rates eight times this year, "we aren't out of the woods at all," said Ken Sheinberg, head of listed trading at brokerage firm SG Cowen. "You are going...